Fashionette issues profit warning

According to preliminary, unaudited group figures, Fashionette AG’s adjusted EBITDA on a consolidated basis amounted to 0.5 million euros in 2022 compared to 4.4 million euros in the previous year.

The forecast adjusted in November 2022 assumed an adjusted EBITDA of 1 million euros to 4 million euros. The company attributed the below expected numbers to the unexpectedly subdued customer demand in the year-end business.

The company had consolidated net sales of 165.8 million euros in the 2022 financial year compared to 133 .8 million euros in 2021, corresponding to growth of around 7 percent on a pro forma basis or around 24 percent on a consolidated basis.

The company said in a statement that the achieved net sales are within the range of the forecast adjusted in November 2022, which assumed net sales of 165 million euros to 175 million euros.

Despite this restrained customer demand, the company added, it was able to achieve a positive operating cash flow of around 2.3 million euros during the financial year under review.

The company expects to publish the final figures on March 31, 2023.